Hartford Financial Management Inc. Grows Stock Position in Apple Inc. (NASDAQ:AAPL)

Hartford Financial Management Inc. increased its stake in shares of Apple Inc. (NASDAQ:AAPL) by 2.5% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 61,492 shares of the iPhone maker’s stock after purchasing an additional 1,482 shares during the period. Apple accounts for 3.2% of Hartford Financial Management Inc.’s investment portfolio, making the stock its 3rd largest position. Hartford Financial Management Inc.’s holdings in Apple were worth $15,399,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in the stock. Drystone LLC purchased a new stake in Apple during the fourth quarter valued at about $25,000. Bull Oak Capital LLC increased its position in shares of Apple by 252.3% during the 3rd quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock valued at $36,000 after purchasing an additional 111 shares during the last quarter. SPX Gestao de Recursos Ltda purchased a new position in shares of Apple during the 3rd quarter valued at about $71,000. Christopher J. Hasenberg Inc lifted its position in Apple by 88.9% in the 3rd quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock worth $69,000 after buying an additional 144 shares during the last quarter. Finally, Teachers Insurance & Annuity Association of America purchased a new stake in Apple in the third quarter worth approximately $77,000. Institutional investors own 67.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on AAPL. The Goldman Sachs Group reissued a “buy” rating on shares of Apple in a research note on Wednesday, February 19th. TD Cowen restated a “buy” rating on shares of Apple in a report on Tuesday, January 28th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $262.00 price target on shares of Apple in a research note on Monday, January 27th. UBS Group increased their price objective on Apple to $236.00 and gave the company a “hold” rating in a research note on Tuesday, February 25th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Apple from $260.00 to $270.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Four research analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Apple presently has an average rating of “Moderate Buy” and an average target price of $243.65.

Apple Stock Performance

Shares of NASDAQ AAPL opened at $223.85 on Friday. The stock has a 50 day moving average of $230.94 and a 200-day moving average of $233.28. The company has a current ratio of 0.92, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26. The company has a market capitalization of $3.36 trillion, a P/E ratio of 35.53, a P/E/G ratio of 2.44 and a beta of 1.18. Apple Inc. has a 12 month low of $164.08 and a 12 month high of $260.10.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.36 by $0.04. Apple had a net margin of 24.30% and a return on equity of 160.83%. As a group, equities research analysts predict that Apple Inc. will post 7.28 EPS for the current year.

Apple Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 13th. Investors of record on Monday, February 10th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $1.00 annualized dividend and a dividend yield of 0.45%. Apple’s payout ratio is 15.87%.

About Apple

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. The company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, and HomePod.